Cwm LLC Raises Position in DocuSign, Inc. (NASDAQ:DOCU)

Cwm LLC grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,027 shares of the company’s stock after purchasing an additional 945 shares during the period. Cwm LLC’s holdings in DocuSign were worth $1,989,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Comerica Bank grew its position in DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the period. Vanguard Group Inc. increased its holdings in shares of DocuSign by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after buying an additional 417,352 shares during the last quarter. Retirement Systems of Alabama bought a new stake in shares of DocuSign in the 1st quarter worth about $8,700,000. PGGM Investments increased its holdings in shares of DocuSign by 36.7% in the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after buying an additional 13,379 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in DocuSign by 77.8% during the 1st quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock valued at $3,364,000 after purchasing an additional 24,718 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Performance

DOCU stock opened at $68.86 on Tuesday. The firm has a market cap of $14.10 billion, a PE ratio of 132.42, a P/E/G ratio of 7.33 and a beta of 0.92. DocuSign, Inc. has a one year low of $38.11 and a one year high of $70.19. The firm’s fifty day moving average is $58.69 and its 200 day moving average is $56.88.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on DOCU. Wells Fargo & Company upped their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.40.

Insider Transactions at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total value of $508,725.00. Following the transaction, the insider now directly owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the sale, the insider now owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 418,002 shares of company stock valued at $22,471,973. Corporate insiders own 1.66% of the company’s stock.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.